Healthcare Business News

Roberts promoted to president of CVS' PBM business

By Jaimy Lee
Posted: April 2, 2012 - 11:30 am ET

CVS Caremark Corp. said it has promoted Jonathan Roberts to president of the Woonsocket, R.I.-based company's pharmacy benefit management business, a move that will be effective in September.

Per Lofberg, current president, has been named chairman of its PBM business.

Roberts, 56, currently serves as executive vice president and COO of Caremark Pharmacy Services, the PBM unit, according to the news release.

When he takes on the president role in September, Roberts will have day-to-day responsibility for the PBM business, including sales, account management, and operations. Lofberg, 63, will focus on PBM strategy, new business development and client relationship management and retention as chairman.

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CVS Caremark, Express Scripts and Medco Health Solutions are the three largest PBMs.

Caremark Pharmacy Services is now the nation's second largest PBM following Express Scripts' completion of competitor Medco Health Solutions earlier today.

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